No. Montgomery Ward is not affiliated with Fingerhut. These two businesses do not have the same parent company, as Montgomery Ward is a subsidiary of Colony Brands, Inc., while Fingerhut is a subsidiary of Bluestem Brands, Inc.
That said, Montgomery Ward and Fingerhut have partnered up in the past. Their most recent joint venture – Montgomery Ward Direct – launched in 1991. However, Montgomery Ward Direct was shut down in the mid 1990s, and the two companies do not currently share any other projects. Montgomery Ward and Fingerhut now compete in the online retail space for the business of middle- and low-income consumers, especially those with less-than-good credit scores.
Yes. Montgomery Ward reports to the credit bureaus Experian, Equifax, and TransUnion every 30 days. Reports are sent to these three major credit bureaus for all open Montgomery Ward Credit Accounts, and each report includes information such as the account’s statement balance and payment history. Montgomery Ward will only stop reporting to the credit bureaus when the account closes, which could happen after a year of inactivity, so use your credit line to make purchases each year if you want the account to remain open and reporting.… read full answer
Opening a Montgomery Ward Credit Account is a great way to boost your credit score, but it will only help if you use the line of credit responsibly. Maxing out your credit line, missing payment due dates, and other missteps will be reported to credit bureaus, which will likely cause your credit score to decrease.
If you’d like to see the effect that your Montgomery Ward Credit Account is having on your credit, you can check your latest credit score and TransUnion credit report for free on WalletHub.
Montgomery Ward is still in business as an online retailer, after being relaunched as an online company in 2004. Montgomery Ward started as a mail-order catalog company in 1872, became popular with catalogs and brick-and-mortar retail stores during the 1900s, and evolved into an online retailer in the early 2000s.
Despite decades of success with catalogs and retail stores, Montgomery Ward had trouble competing with the likes of Target and Walmart in the late 1900s. Montgomery Ward had so much trouble, in fact, that they filed for bankruptcy in 1997. When their remaining brick-and-mortar stores closed in 2001, Montgomery Ward was officially out of business. In 2004, however, the brand was bought out and relaunched as an online retailer.
Although it’s no longer the household name that it once was, Montgomery Ward is still up and running. Their “Buy Now, Pay Later” policy allows many customers to get store credit lines, make purchases, and pay balances off over time. And a Montgomery Ward Credit Account is especially useful for people with bad credit who are looking to improve their credit score.
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